Caesars Entertainment (NASDAQ:CZR) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Caesars Entertainment (NASDAQ:CZR) announced its earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20, Zacks reports. Caesars Entertainment had a negative net margin of 3.20% and a negative return on equity of 4.44%.

Caesars Entertainment Stock Down 0.5 %

Caesars Entertainment stock traded down $0.17 during trading hours on Tuesday, hitting $34.87. The stock had a trading volume of 6,180,158 shares, compared to its average volume of 4,505,883. The stock’s 50-day moving average price is $34.69 and its 200-day moving average price is $37.87. Caesars Entertainment has a 12-month low of $30.78 and a 12-month high of $45.93. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.84. The stock has a market capitalization of $7.41 billion, a P/E ratio of -20.88 and a beta of 2.90.

Wall Street Analyst Weigh In

Several research firms have weighed in on CZR. Stifel Nicolaus cut their price objective on Caesars Entertainment from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of Caesars Entertainment in a research note on Wednesday, October 30th. TD Cowen reduced their price target on Caesars Entertainment from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on Caesars Entertainment from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, JMP Securities dropped their target price on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Caesars Entertainment has a consensus rating of “Moderate Buy” and an average price target of $51.21.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.